FACTBOX-CEO departures during financial crisis

Oct 13 CIT Group Inc (CIT.N) said Chief
Executive Jeffrey Peek plans to retire at the end of the year,
the latest in a series of high-level departures from financial
institutions during the financial crisis. CIT said its board is
forming a committee to search for a successor. [ID:nN137281]

* On Sept. 29, Hartford Financial Services Group Inc
(HIG.N) said Chief Executive Ramani Ayer will resign Oct. 1, to
be replaced by Liam McGee. Ayer had announced his intention to
retire in June.

* On Sept. 10, Morgan Stanley (MS.N) said Chief Executive
John Mack will step down, to be replaced by James Gorman, one
of the investment bank's co-presidents, on Jan. 1. Mack will
remain chairman.

* On Aug. 3, American International Group Inc (AIG.N) said
Edward Liddy would retire on Aug. 10, and be replaced by Robert
Benmosche as chief executive.

Liddy, who had previously announced his intention to leave,
took over from Robert Willumstad on Sept. 18, 2008. Willumstad
took the job from Martin Sullivan only three months earlier, on
June 15, 2008.

* On Sept. 8, Washington Mutual Inc WAMUQ.PK ousted Kerry
Killinger as chief executive, to be replaced by Alan Fishman.
The thrift was closed 18 days later and its banking assets sold
to JPMorgan Chase & Co (JPM.N).

* On July 9, Wachovia Corp named Robert Steel as chief
executive, taking over from interim CEO Lanty Smith. Smith had
replaced Ken Thompson, who was ousted as CEO on June 2. Steel
left after Wachovia was taken over by Wells Fargo & Co (WFC.N).

Next In Funds News

NEW YORK, Dec 9 Credit Suisse on Friday
said it would lower investors' hurdle to redeeming two popular
exchange-traded notes, used to bet on the price of oil, after it
delisted the products in a surprise move this week.

BATON ROUGE, La., Dec 9 U.S. President-elect
Donald Trump will likely ask a senior Goldman Sachs
banker to coordinate economic policy across his administration,
turning again to Wall Street for expertise in managing the
world's largest economy, a transition official said on Friday.

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